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j2 GLOBAL COMMUNICATIONS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
Years Ended December 31, 2009, 2008 and 2007
(In thousands, except share and per share data)
2009
2008
2007
Revenues:
Subscriber
$
241,922
$
236,841
$
212,329
Other
3,649
4,672
8,368
245,571
241,513
220,697
Cost of revenues (including share-based compensation of $1,263, $901
and $668 in 2009, 2008 and 2007, respectively)
44,730
46,250
43,987
Gross profit
200,841
195,263
176,710
Operating expenses:
Sales and marketing (including share-based compensation of
$1,818, $1,268 and $1,187 in 2009, 2008 and 2007,
respectively)
37,006
41,270
38,768
Research, development and engineering (including share-based
compensation of $853, $803, and $771 in 2009, 2008 and
2007, respectively)
11,657
12,031
11,833
General and administrative (including share
-
based compensation of
$7,084, $5,014 and $4,788 in 2009, 2008 and 2007,
respectively)
45,275
44,028
39,683
Loss on disposal of long
-
lived asset
2,442
—
—
Total operating expenses
96,380
97,329
90,284
Operating earnings
104,461
97,934
86,426
Other income (expenses):
Other
-
than
-
temporary impairment losses
(9,343
)
—
—
Interest and other income
3,100
4,778
9,272
Interest and other expense
(439
)
(559
)
(237
)
Total other income (expenses)
(6,682
)
4,219
9,035
Earnings before income taxes
97,779
102,153
95,461
Income tax expense
30,952
29,591
27,000
Net earnings
$
66,827
$
72,562
$
68,461
Net earnings per common share:
Basic
$
1.52
$
1.63
$
1.40
Diluted
$
1.48
$
1.58
$
1.35
Weighted average shares outstanding:
Basic
43,936,194
44,609,174
48,953,483
Diluted
45,138,001
45,937,506
50,762,007
-
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